In recent years, higher education institutions have increasingly recognized the importance of supporting students' basic needs. From food pantries to counseling services, and financial wellness resources to housing support, these wraparound services are essential for ensuring that students can focus on their studies without the distraction of unmet needs.
However, a significant gap often emerges during academic breaks, when many of these resources become scarce or unavailable. This period can be particularly challenging for students who rely on institutional support throughout the academic year.
The Breaktime Barrier: When Resources Disappear
While on-campus support systems are commendable, there's a critical gap during semester breaks. Food pantries may have limited hours or close entirely, forced campus housing closers can leave themselves without a safe place to stay, and financial aid disbursements typically follow semester schedules, leaving students vulnerable during breaks.
This "breaktime barrier" can be particularly stressful for students struggling with basic needs insecurity.
Financial Literacy: The Missing Piece of the Puzzle
The good news? There's a powerful tool that can empower students to navigate financial challenges throughout the year, including breaks: financial literacy. By equipping students with robust financial education, institutions can empower them to navigate financial challenges more effectively, both during the academic term and beyond.
iGrad: Supporting Students Year-Round
iGrad’s white-label financial literacy program is designed to meet the unique needs of college and university students, offering continuous support that extends beyond the academic calendar. Here’s how iGrad can help institutions provide essential financial wellness resources during academic breaks:
Comprehensive Financial Education
iGrad offers a wide range of financial literacy tools, from interactive courses to personalized financial plans. These resources empower students to manage their finances effectively, no matter the time of year.
Online and Accessible Resources
With iGrad’s online platform, students have 24/7 access to financial education materials. This ensures that even during breaks, students can continue to learn and apply financial strategies to their lives.
Tailored Support
iGrad provides tailored financial wellness support, recognizing that each student’s situation is unique. Personalized advice and resources help students address their specific financial challenges, from budgeting for breaks to planning for long-term goals.
Continuous Engagement
iGrad’s program includes regular check-ins and updates, keeping students engaged and informed about their financial health. This ongoing support is crucial for maintaining financial wellness throughout the year.
Benefits for Students and Institutions
By integrating financial literacy, institutions can:
- Bridge the Break Barrier: Empowered students can make informed choices about budgeting and resource allocation, reducing financial stress during breaks.
- Reduce Basic Needs Insecurity: Financial literacy can help students access available resources more effectively, lessening the strain on on-campus support systems.
- Boost Retention Rates: When students feel supported and empowered to manage their finances, they're more likely to stay enrolled and complete their degrees.
Investing in Students, Investing in the Future
Supporting students' basic needs during academic breaks is not just a matter of providing temporary relief; it’s about equipping them with the skills and resources to manage their lives independently and confidently. Financial literacy and wellness are key components of this support, enabling students to navigate financial challenges with resilience and foresight.
By integrating comprehensive financial literacy programs like iGrad into their student support services, institutions can ensure that students have the knowledge and tools they need to thrive, regardless of the academic calendar. In doing so, colleges and universities not only enhance student well-being but also foster a more stable, successful, and prepared student body.
Let’s make sure that support for our students doesn’t take a break, and empower them with the financial literacy and wellness resources they need to succeed all year round.